Zoom is reducing its headcount by 15%.
The layoffs will affect about 1,300 of Zoom's employees, CEO Eric Yuan said in a blog post published Tuesday on the video communication company's website.
ZOOM CEO ERIC YUAN DISCUSSES HYBRID WORK DURING BOXWORKS PANEL
Yuan noted Zoom "needed to staff up rapidly to support the quick rise of users on our platform and their evolving needs" during the COVID-19 pandemic. The company's size tripled within two years, he said.
"We didn't take as much time as we should have to thoroughly analyze our teams or assess if we were growing sustainably, toward the highest priorities," Yuan said in the blog post.
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"As the world transitions to life post-pandemic, we are seeing that people and businesses continue to rely on Zoom," he said. "But the uncertainty of the global economy, and its effect on our customers, means we need to take a hard – yet important – look inward to reset ourselves so we can weather the economic environment, deliver for our customers and achieve Zoom’s long-term vision."
